As part of Velosio’s commitment to providing solutions and services to help professional services firms meet their organizational goals, we’ve extended Dynamics 365 Finance and Operations, Enterprise Edition with broad and deep functionality built specifically to address the needs of project based companies.
Our Contract and Revenue Management Module effectively handles all aspects of contract lifecycle management within Dynamics 365 Finance and Operations, Enterprise Edition. This module tracks a contract from the time of negotiation to acceptance, works-in-process, and then retirement – greatly simplifying the complex nature of revenue recognition.
Used in conjunction with the core financial features of Dynamics 365 Finance and Operations, Enterprise Edition, the Contracts and Revenue Management module streamlines the contract management process and gives your financial staff the tools they need to ensure that contract terms and conditions are enforced
under ASC 606 and IFRS 15 guidelines.
What’s provided as a part of the contract lifecycle management system?
- Contract initiation: Contracts after they have been accepted and signed by customer
- Renewals: Features to manage contract renewals after a contract term has ended
- Realignments: Features to change the terms of contracts mid-way (change the value and/or contract periods)
- Billing: This module provides automated billing features with various types of billing frequencies and billing options like monthly quarterly, half-yearly, yearly and non-linear (custom billing dates)
- Revenue management: Automated Revenue Management process for fixed price and variable price contracts
- Revenue recognition end date: Each contract line can have a different revenue recognition end date
- Workflow approval: A process can be implemented to move an unconfirmed contract to confirmed contract status
- Discount: A process can be implemented to move an unconfirmed contract to confirmed contract status
- Contract Amendment: Add a new line and link with a running contract
Download the fact sheet to learn more about the features provided as a part of our contract management system.